AAVE’s rise or fall in TVL in the next few days could have a stablecoin connection

Aave, one of the leading lending protocols in the crypto industry, just completed voting on a proposal that would have it deployed on zkSynch. zkSync happens to be a zero-knowledge protocol test net and the deployment was approved by a wide margin with the aim of enabling quicker and less expensive transactions. However, recent reports […]

In the wake of the Terra USTC’s demise, several cryptocurrency projects went down. Furthermore, some were still trying tofrom the devastating financial blow. It is common practice to evaluate a stablecoin’s degree of stability to ensure that the currency is not vulnerable to similar fluctuations in the future.

Despite these concerns, USDT continues to lead all stablecoins in terms of market capitalization and daily volume, as reported by Coinmarketcap. One of the reasons people put their faith in it is because it has been around long enough. Additionally, the stablecoin has witnessed the rise and fall of other stablecoins.

Just lately, JP Morgan implemented a change that facilitated communication between DeFi and TradFi. Tokenizing the Japanese Yen and the Singapore Dollar allowed for this transaction to take place on the blockchain. With the help of an enhanced , it determined its own interest and currency exchange rates. This represented a major step forward because it indicated the scalability of the system both inside and outside of DeFi.At the time of writing, the Total Value locked on Aave 3 was $941.5 million according to DefiLlama. A decline in value was also shown in the TVL graph.

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